New PRC Legislation against Money Laundering

Money laundering has long been a problem in China. To counter this illegal activity, the Chinese government has introduced the PRC Anti-money Laundering Law, a landmark legislation in the history of China's judicial system. How will this new law limit or promote the business scope of financial institutions and foreign-invested enterprises?

By Tang Zhengyu, Wu Min and Karlo Dizon, Sidley Austin, Shanghai